We have some very, very good news for Europeans (which happens to include myself): we have the European Parliament on our sides when it comes to battling ACTA. If you may recall, ACTA is basically an attempt by the US to impose upon the rest of the world draconian measures like three strikes laws and the DMCA. All parties within the European Parliament have together put forth a resolution that would effectively tackle ACTA.

So don't you think that copyright law needs reform to take into account the new age of digital distribution?

Uhm...No. We did not need to change copyright laws when tapedecks came around and we don't need it now. Distributing content without the permission of the copyright holder was a clear infringement then and and it still is one now.
What needs to move with the times is not the copyright law, but the large behemoth organizations that are trying to modify it for their own purpose.

You should read some larry lessig. Copyright law needs to adapt to market paradigm shifts, and should always strive to strike a balance between protecting the creators, and the public good. You are right that things are weighted on the side of the creators in the states, but what Thom was talking is just outdated.